RATE Group | DFS Grants BitLicense to Crypto Custodian
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DFS Grants BitLicense to Crypto Custodian

17 Nov DFS Grants BitLicense to Crypto Custodian

Posted at 23:51h in Cryptocurrency News by

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NYDFS bitlicense cryptocurrency



The New York Department of Financial Services (NYDFS) has issued a BitLicense to NYDIG Execution LLC, a subsidiary of New York Digital Investment Group (NYDIG LLC). In a statement published this week, the regulator revealed that the crypto custodian had been granted a virtual currency license and a money transmission license. In addition, another NYDIG subsidiary, NYDIG Trust Company LLC, has also been given permission to operate as a limited purpose trust company.

Scope of Permission

The permission given by the regulator allows NYDIG to offer crypto custody and trade execution services. Under the framework, the company can provide its customers with a range of options for digital asset custody including self-custody, third-party custodial contracting, or custodial contracting with NYDIG Execution or NYDIG Trust. The digital assets covered by the custody service BitLicense include BTC, BCH, ETH, XRP, and LTC.

In the statement, NYDFS…

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